S3 Capital said Monday it closed on an $81-million construction loan for the development of 19-29 Clay St., a 68-unit luxury condominium property with approximately 14,000 square feet of ground-floor retail space located in Brooklyn’s Greenpoint neighborhood. The project is being developed by Investmates, which specializes in condo construction in Greenpoint and Williamsburg

The 14-story development will feature a mix of one- to four-bedroom residences and a full suite of amenities including a 24-hour doorman, co-working space, furnished rooftop, landscaped garden, children’s playroom and pet spa. S3 has previously worked with Investmates to finance multiple construction loans and provided the original $12.15-million land loan for the project’s development site in 2022.

“The 19-29 Clay St. loan reflects the strength of our deep relationships with seasoned local developers in highly desirable submarkets,” said Shawn Safdie, who led origination for S3 Capital on this deal. “Our flexible and efficient financing approach allows developers to quickly execute with confidence.”

Rendering courtesy of AB Architekten.